HMO Landlord Series #1 - The Easy Step to No Voids (Empty Rooms) Whether You're Self-Managing or Have an Agent
Stop Throwing Money Away in Your HMOs…
In this series of videos we’re giving you the HMO Tips & Tricks to help make your HMO properties deliver better for you and your tenants.
No one goes onto property investment because they want another job.
These tips help you make more money every month, more equity in your property and spend less time doing it so you get your life back.
The little things that have a big impact
This week it’s gold dust as this one thing will reduce the empty rooms that put a big dent in your profit line.
Here’s why minimising voids is important.
Even if you have 5% void which I know a lot of people think is acceptable.
Let’s look at what happens…
On a 5-bedroom house with a room rate of £350 per room
Your gross rent is £1,750 per month and £21,000 per year
Losing 5% in empty rooms you lose
£1,050 every years and £5,250 every 5 years
Let’s say you have 2 properties, then you’re losing
£2,100 per year and £10,500 every 5 years
So you REALLY have to get a rein on this
And keep your business running smoothly
As a self-managing landlord there’s one easy thing you can do Watch from 01:27
IT IS POSSIBLE TO TURN THINGS AROUND AND GET FULL OCCUPANCY AT YOUR HMO
See some case studies on our website.
If you’re in the process of choosing an HMO letting agent you’ll also like 5 things you MUST ask your HMO letting agent.